5 Things You Must Do If You Want To Attain Financial Freedom Through Forex Trading

August 7th, 2010

 

With the amazing growth of the forex market, you are going to see an astounding amount of traders lose all their money. Unfortunately, they haven’t followed the simple steps I have laid out for you. Go through these steps and give yourself the greatest opportunity to achieve your goals.

1. Have Faith In Yourself

To reach the level of elite forex trader, you must trust in yourself and your forex trading education. You must be willing to make all your trading decisions, instead of relying on someone else’s thoughts or ability (or lack of). Of course, you will prepare yourself fully before every risking any money.

2. Accept Your Learning Curve

Unless you are a veteran trader, you will lose money trading the Forex market. This is a near certainty. I don’t say this to talk you out of trading. In fact, quite the opposite. You will be trading against others that fall to this reality day in and day out. You, however, will not risk a dime until you have learned the skills you need to make money trading the forex.

3. Decide What Type of Trader You Are

There are many ways to trade the forex. They range from very active to very patient. You must decide which style suits you best. The best time to learn this about yourself is while you are trading a demo account. There is no need to allow your learning curve to cost you money.

4. Get Educated

Education is the shortest path to elite forex trading. Regardless of your ultimate goals, you will reach them quicker with a great forex trading education. Take some time to review different options before deciding on who to trust with your forex trading education needs. A forex seminar will help shorten your learning curve drastically.

5. Continue to Get Educated

In order to achieve and retain elite forex trading skills, you must constantly be adding to you knowledge base. Your education should never end. In fact, one of the key points to look for in an elite forex trading course is ongoing education. It’s nice to have an ongoing relationship with the person/people helping you to achieve your goals.

What separates an elite forex trader from all others is their desire and ability to be independent. Many traders are willing to follow signals, systems, strategies, or anything else you may call them. By taking this approach, however, these traders are only as good as the people they follow.

An elite forex trader will lead. Their decisions will be calculated and analyzed to near perfection. They will make decisions with no hesitation, and handle the growth of their account in a predetermined, intelligent fashion. Take your trading to their level and you will never look back.

iam back .. :)

August 6th, 2010

hello all ,

i’m back again to my lovley blog :) .. and i will start typing new articles very soon.

thanks for you all.

i will approve all old comments :)

5 Reasons For Becoming A World Currency Trader

December 30th, 2009

 

5 Reasons For Becoming A World Currency Trader

The foreign currency exchange market offers today’s investor many advantages and here are just 5 reasons why you might want to become a world currency trader.

A Market Which Never Closes : Many of the trading markets around the world are situated in fixed locations and operate within strict trading hours, often limited to just five or six hours a day between Monday and Friday. The Forex market however is open 24 hours a day. This means that traders can not only take advantage of international events and react literally as they happen, but they also have the ability set their own trading hours. If you prefer to work in the mornings then that’s fine but, if this doesn’t suit you, then you can choose to trade during the afternoon, late evening or even in the middle of the night if you want to.

Low Trading Costs : In many markets, like the equity market, traders not only have to pay a spread (the difference in price between buying and selling a stock) but also have to pay a commission to the broker. On small trades this commission can typically be about $20 and this can rise rapidly to over $100 for larger trades. Because the foreign currency exchange market is a wholly electronic market many of the traditional trading costs are eliminated and you are in affect reduced to paying nothing more than the spread. In addition, the extremely liquid nature of the global currency exchange market means that spreads are normally much tighter than those seen in other markets.

The Ability To Trade On High Leverage : In most markets where a trader has an opportunity to trade on leverage the leverage offered is often quite low. In the case of equity markets, for example, professional equity day traders will normally operate on a leverage of about ten times their capital. In the Forex market by contrast it is quite common to find that traders are permitted to trade at one hundred to two hundred times their capital. A downside of high leverage is that it can of course lead to high losses as well as high gains. However, within the foreign currency market, risk management is extremely tightly controlled.

Limited Slippage: in currency trading trades are executed immediately using real-time prices at which firms will buy or sell the currencies quoted. In almost all cases this means that the price you see and the price you pay are the same. This is not often the case in other markets where there can be often considerable delays between placing an order and that order being executed during which time the price will often move against you.

 

The Chance To Profit In Both Rising And Falling Markets
Equity markets follow rising and falling trends (cycling between Bull and Bear markets), but the Forex market does not suffer this cycling which comes from structural bias in the market.World currency trading always involves two currencies so that if you are down on one currency then you are up on the other. There is therefore always the potential for making a profit whether the market is rising or falling.

 

Forex Robot

October 28th, 2009

What is Forex Robot?

Is a type of autotrading is very similar to algorithmic or black-box trading, where a computer algorithm, or Expert Advisor (EA), decides on aspects of the order such as the timing, price, or quantity or initiation of the order without human intervention.
Users can only interfere by tweaking the technical parameters of the program; and all other control is handed over to the program. Forex Robot is sometimes also called Forex EAs.
This type of Robot is a computer designed software to make trades for you on whatever foreign exchange trading platform you are running, most of them run on the Metatrader platform which is free from most brokers. The software places all your trades from start to finish.
However nowadays Forex Robot is designed to make retail forex traders like us to easily configure and assign what we require of the trading.

So when looking for a Robot to trade you need to find one that caters to your need. You have to be careful when looking around as so many promise you fantastic profits over night and avoid these types. Look for ones that promise profit but profit that is realistic and the ones which are renowned already, base on brands and longevity of product sales.

October 25th, 2009

As the name suggests, FOREX Autopilot is a software application that does FOREX trading in an automated manner.

The program has automated trading bots in a software format, which you install on your computer. You have to do nothing more than this installation but to keep your PC on. You will find that these trading bots will handle all the FOREX transactions for you all through the night and in the morning, you see that you have a swollen account!

Naturally, there is much criticism whether such a thing really works but FOREX Autopilot is genuine software released by Marcus Leary, a FOREX expert who also has innate Internet marketing knowledge.

 

IVYBOT

October 25th, 2009

IVYBOT was developed by graduates of Ivy League universities and pledges to provide all system updates to its subscribers for free.  Ivybot also has very unique methods in testing it’s system utilizing back testing, optimization, and walk forward optimization.  The greatest thing about Ivybot is that you don’t have to know anything about foreign exchange, trading, mathematics, or computes to utilize our system. 

Today, IVYBOT is one of the top five automated FOREX websites in the world. The method is devised as a foolproof system to bring unavoidable trading benefits to users.

Forex MegaDroid

October 23rd, 2009

FOREX MegaDroid is an automated FOREX trading system that works with the help of automated trading bots that you need to install on your computer system.

The team has 38 years of combined Forex trading experience has allowed us to design the perfect strategy, on which Forex MegaDroid is based. Only experience can bring such quality in strategy design. Hector Lusting’s 41 years of computer programming technology created the technology that allowed RCTPA to be an automatic, hands-free reality.

Forex MegaDroid is the only robot on the market that has this new “Broker Buster” mechanism ensuring you a smooth trading environment without any hustles or problems.

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FOREX Bling

October 23rd, 2009

FOREX Bling is an automatic FOREX trading system that operates on MT4 trading accounts.

Their approach was to create several trading robots that each works on a specific market condition.

Each of the Forex Bling robots is designed for short term profit and long term gain. You can use one trading system only, choose several strategies or use the complete trading systems in the package.

 The program has been designed by Yohanes R. Gagahlin and his team who are professional experts of FOREX trading.

 

Upbeat US Data amid Lackluster FX

September 2nd, 2009

The dollar was mixed against the majors in the Wednesday session, largely confined within recent ranges in lackluster trading. The greenback recovered from its session lows versus the euro at 1.4350 to hover near the 1.4230-level, while pushing the Canadian dollar just shy of the 1.10-figure.

New home sales posted a strong reading in July, surging by its largest figure in nearly 4-years, up by 9.6% to 433k units versus 384k units from June. Building permits were drifted by 1.1% to 564k units in July. Meanwhile, durable goods orders were sharply better than expected, posting a gain of 4.9% versus a 2.2% decline a month earlier in June. The excluding transports July durable goods orders also improved, edging higher by 0.8% compared with a 1.6% increase a month earlier.

In the coming session, traders will look ahead to weekly jobless claims and more importantly, the preliminary reading for Q2 GDP. Weekly jobless claims are expected improve to 565k from 576k a week earlier. Meanwhile, economic growth in the second quarter is expected to post a 1.4% contraction, deteriorating further from a 1.0% contraction in the previous quarter. The Q2 PCE is expected to hold steady at 1.3%.

This article contains the following sections:

  • Euro Trades Sideways

 

 

Learn How to Trade Forex ?

August 17th, 2009

Trading foreign exchange is exciting and potentially very profitable, but there are also significant risk factors. It is crucially important that you fully understand the implications of margin trading and the particular pitfalls and opportunities that foreign exchange trading offers. On these pages, we offer you a brief introduction to the Forex markets as well as their participants and some strategies that you can apply. However, if you are ever in doubt about any aspect of a trade, you can always discuss the matter in-depth with one of our dealers. They are available 24 hours a day on the Saxo Bank online trading system, SaxoTrader.

The benchmark of its service is efficient execution, concise analysis and expertise – all achieved whilst maintaining an attractive and competitive cost structure. Today, Saxo Bank offers one of Europe’s premier all-round services for trading in derivative products and foreign exchange. We count amongst our employees numerous dealers and analysts, each of whom has many years experience and a wide and varied knowledge of the markets – gained both in our home countries and in international financial centres. When trading foreign exchange, futures and other derivative products, we offer 24-hour service, extensive daily analysis, individual access to our Research & Analysis department for specific queries, and immediate execution of trades through our international network of banks and brokers. All at a price considerably lower than that which most companies and private investors normally have access to.

The combination of our strong emphasis on customer service, our strategy and trading recommendations, our strategic and individual hedging programmes, along with the availability to our clients of the latest news and information builds a strong case for trading an individual account through Saxo Bank.

Terms of trading are agreed individually depending on the volume of your transactions, but are generally much lower in cost when compared to banks and brokers. Your margin deposit can be cash or government securities, bank guarantees etc. Large corporate or institutional clients may be offered trading facilities on the strength of their balance sheet. The minimum deposit accepted for an individual trading account depends on the account type. Trade confirmations and real-time account overview are built into SaxoTrader, while further account information can be produced in accordance with your specific requirements